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Economics Review Flashcards | StudBud
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Economics Review
Economics Review
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Questions
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Answers
1
Money needs to be divisible because if not, everything would have to cost the same amount.
True
False
2
What is something you buy and consume?
supply
demand
goods
services
3
The
value
of currency can be easily recognized because it has the amount it is worth printed on it.
True
False
4
When the supply of an item is low and the demand is high, the price will...
go down
do nothing
go up
stay the same
5
Money needs to be noncounterfeitable because it needs to not be able to be duplicated easily.
True
False
6
If Walmart has a lot of toys available to sell, the supply is
medium
low
high
goods
7
Why does money need to be portable?
so it can't be easily duplicated
so it can be divided up
so we can identify it
So we can carry it with us
8
If a store runs out of an item to sell, there is a...
the same
low price
low demand
scarcity
9
Which of the following is an example of person providing a service?
house
Taxi Driver
car
cookies
10
If money was not durable, it would easily fall apart.
True
False
11
What is the amount of goods available at a given time?
need
demand
supply
services
12
If lots of people are buying cars right now, then the cars are in __________ demand.
normal
low
high
no
13
What country is this money from?
Mexico
Canana
United States
France
14
What country is this money from?
France
Mexico
Caribbean
United States
15
Which of the following is NOT an example of a characteristic of all money?
recognizible
beautiful
durable
divisible
16
_____________ means how many people want the goods that are available.
supply
demand
services
goods
17
Which of the following is an examples of goods?
Lawn Care Person
babysitter
computer
dog walker
